Request to Increase Sample Clauses
A 'Request to Increase' clause allows one party to formally ask for an increase in a specified amount or limit under the contract, such as a credit line, quantity of goods, or scope of services. Typically, this clause outlines the process for submitting such a request, including any required documentation, notice periods, and criteria the other party must consider before approving or denying the increase. Its core practical function is to provide a structured and transparent mechanism for adjusting key contract terms in response to changing needs, thereby reducing uncertainty and potential disputes.
POPULAR SAMPLE Copied 1 times
Request to Increase. The Borrower shall have the right to increase the aggregate amount of the RC Commitment by an aggregate principal amount equal to $25,000,000 by obtaining additional commitments, either from one or more of the Lenders or another lending institution reasonably acceptable to the Agent (a “new Lender”), subject to the following terms and conditions: (i) any such request for an increase shall be in the aggregate principal amount of at least $5,000,000, (ii) the Borrower may make a maximum of two (2) such requests, (iii) any new Lender assumes all of the rights and obligations of a “Lender” hereunder, and (iv) the procedure described in this Subsection 2.3.1 has been satisfied and provided, further, the Borrower shall give the existing Lenders at least ten Business Days’ written notice that it intends to increase the RC Commitment (which notice shall include the amount of such proposed increase) and the Borrower shall give the existing Lenders the first opportunity to provide such increase in the RC Commitment during such ten Business Day period prior to agreeing to any increased RC Commitment with any new Lender. If more than one existing Lender offers to provide the increased RC Commitment, such increase shall be allocated among the offering Lenders pro rata. For the avoidance of doubt, no Lender shall be obligated under this Section 2.3 (Increase in RC Commitment) to fund any portion of an increase in the aggregate amount of the RC Commitment pursuant to this Section 2.3 (Increase in RC Commitment), unless such Lender agrees to fund at the time of such increase.
Request to Increase. From and after November 4, 2010, and provided no Event of Default has occurred and is continuing, the Borrower may from time to time propose to increase the Commitment Amount for any Facility in accordance with this Section 2.16(b). The aggregate principal amount of the increase to the Commitment Amount for such Facility (the “Increased Facility Amount”) shall not exceed $100,000,000 and each increase shall be at least $10,000,000. The Borrower shall provide notice to the Administrative Agent of any requested Increased Facility Amount. The Administrative Agent may, in its sole discretion, offer one or more Lenders the opportunity (but not the obligation), for a period of 20 days following receipt of such notice, to elect by notice to the Borrower and the Administrative Agent to subscribe to participate in the Increased Facility Amount. Each such Lender that fails to respond to such a notice shall be deemed to have elected not to subscribe to or increase its Percentage in such Facility.
Request to Increase. From and after July 19, 2011, and provided no Event of Default has occurred and is continuing, the Borrower may from time to time request an increase in the Commitment Amount for any Facility in accordance with this Section 2.16(b). The aggregate principal amount of all increases to all Commitment Amounts made pursuant to this Section 2.16(b) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”), subject to reinstatement as provided in subsection (vi) below, and each requested increase (each, an “Accordion Increase”) shall not be less than $10,000,000. Upon receipt of a request for an Accordion Increase from the Borrower, the Administrative Agent, in its sole discretion, may offer one or more Lenders the opportunity (but not the obligation), in such amounts as the Administrative Agent shall determine, to participate in the Accordion Increase by increasing such Lender’s Commitment with respect to the applicable Facility. The Administrative Agent shall have no obligation to offer any Lender an opportunity to participate in any such Accordion Increase and nothing herein shall prohibit the Administrative Agent from retaining for its own account, as a Lender, all or substantially all of such Accordion Increase. Each Lender that fails to respond to such a notice in writing within the period of time provided therein shall be deemed to have elected not to participate in such Accordion Increase.
Request to Increase. 34 2.3.2 Modifications to this Agreement 35 2.4 Term Loan to U.S. Borrower. 35
Request to Increase. Provided that no Event of Default has occurred and is continuing, Borrower may from time to time, but in no event more than two times prior to the 2-Year Maturity Date, propose to increase the Aggregate 2-Year Commitment in accordance with this Section 2.10. The aggregate principal amount of the increase to the Aggregate 2-Year Commitment made pursuant to this Section 2.10 (the amount of any such increase, the “Increased Facility Amount”) shall not exceed $35,000,000, which for the avoidance of doubt shall increase the Aggregate 2-Year Commitment to an amount not to exceed $50,000,000, and each increase shall be at least $10,000,000. Borrower shall provide notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Syndication Parties) of any requested Increased Facility Amount. Each Syndication Party shall have the right (but not the obligation), for a period of thirty days following receipt of such notice, to elect by notice to Borrower and the Administrative Agent to subscribe to participate in the Increased Facility Amount to the extent of its Percentage. Syndication Parties that fail to respond to such notice shall be deemed to have elected not to increase their Percentages in the 2-Year Facility.
Request to Increase. Following the Closing Date, and provided no Event of Default has occurred and is continuing, the Borrower may from time to time through the third anniversary of the Closing Date, propose to increase the Total Revolving Facility Amount in accordance with this Section. The aggregate principal amount of the increases to the Total Revolving Facility Amount made pursuant to this Section (the amount of any such increase, the “Increased Facility Amount”), shall not exceed $75,000,000 and each increase shall be at least $25,000,000. The Borrower shall provide notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Lenders) of any requested Increased Facility Amount. Each Revolving Lender shall have the right (but not the obligation), for a period of 30 days following receipt of such notice, to elect by notice to the Borrower and the Administrative Agent to subscribe to participate in the Increased Facility Amount to the extent of its Revolving Percentage. Lenders that fail to respond to such a notice shall be deemed to have elected not to increase their Revolving Percentages.
Request to Increase. The Borrower shall have the right to increase the aggregate amount of the Commitment by an aggregate principal amount equal to $10,000,000 by obtaining additional commitments, either from one or more of the Lenders or another lending institution reasonably acceptable to the Agent (a “new Lender”), subject to the following terms and conditions: (i) any such request for an increase shall be in the aggregate principal amount of at least $5,000,000 (ii) the Borrower may make a maximum of two (2) such requests, (iii) any new Lender assumes all of the rights and obligations of a “Lender” hereunder, and (iv) the procedure described in Subsection 2.4.1 has been satisfied and provided, further the Borrower shall give the existing Lenders at least ten Business Days’ written notice that it intends to increase the Commitment (which notice shall include the amount of such proposed increase) and Borrower shall give the existing Lenders the first opportunity to provide such increase in the Commitment during such ten Business Day period prior to agreeing to any increased Commitment with any new Lender. If more than one existing Lender offers to provide the increased Commitment, such increase shall be allocated amount the offering Lenders pro rata.